First Asset US & Canada LifeCo Income Fund to convert to ETF

Fund data for this article

The First Asset US & Canada LifeCo Income Fund's automatic conversion feature has been triggered and, as a result, the fund's manager has initiated the process to convert the fund into an exchange-traded fund (ETF).

The implementation of the conversion of the fund is subject to certain conditions, including obtaining a receipt for the final prospectus of the ETF, receipt of certain regulatory relief and the entering into of contractual arrangements to accommodate the conversion.

The manager currently anticipates that the conversion will be implemented before the end of August 2014.

Unitholders are not required to take any action in connection with the conversion.